Trading can be intensely rewarding. But it is also one of the most mentally and emotionally challenging activities anyone can pursue. As in other high-performance domains, those who are serious about mastering their craft and staying in the game spend serious time working on their game, including training their mind and body.
Steve Ward has spent the last 15 years working as a performance coach with financial traders and investors at some of the biggest and most successful investment banks, hedge funds, asset managers, commodities trading houses and proprietary trading groups across the globe, helping them to perform at their best, to navigate the highs and lows of trading and investing in the markets, and to sustain high performance for the long run.
As one hedge fund client put it to him, “It's about becoming bulletproof”.
Becoming a bulletproof trader is forged over time through experience, and by applying the latest insights from biological and psychological sciences, the best that practical philosophy can teach us, and a healthy dose of pragmatism – doing what actually works in the real world of trading the markets.
This book brings together all of Steve's latest insights into how to deal with stresses and setbacks and sustain high performance in a comprehensive, accessible and unmissable book, so that you too can become a bulletproof trader.
The book is designed to target an audience of traders in financial markets who face challenges handling and navigating through stress, emotions, challenges, and setbacks in a way that impairs their process and performance. The author draws on ideas from philosophy (especially The Stoics), psychology, and physiology. It is also a workboook intended that traders can dip into. The book is structured in nine parts, containing 24 chapters. They deal with issues including how to cope with ups and downs, manage risk, take committed action, be focused and confident, handle discomfort and be flexible, and manage your health (stress, fatigue, physiological fitness).
I found several helpful ideas here, well anchored - such as to focus on process rather than outcomes, to know and take action based on your values, and to self-manage or self-regulate (be aware of yourself - be an observer of yourself. I also think the book would be helpful to an audience engaged in intense activity, such as sports or extreme activities. The ideas must also be relevant to others in high stress work, such as firefighters and A&E emergency responders.
What I found frustrating in the book:
1. Lack of an index at the back. 2. Incomplete refererences for many of the ideas (the Endnotes list 59 references). 3. Further reading on the key, anchoring concepts and theories underlying the advice given.
That said, it is written as a workbook and not losing sight of this it is worthwhile reading. I have found it practically helpful. I flagged and highlighted throughout and will return to the book as a resource.